In this paper the factor supply results of Leland. Sandmo and Block and Heineke are generalized to include the case of a household making a joint savings-labor supply decision when the returns to each factor are uncertain

In this paper we extend Scitovsky’s classic “A Note on Profit Maximization and its Implications” to a stochastic environment. Implications of the model with and without uncertainty are contrasted

In this short paper we reformulate and extend Sandmo's (3) well known analysis of “capital risk” to include the effects of savings uncertainty on both the savings decision and the labor-leisure decision

This paper analyzes the labor supply decision of a single economic agent within the expected utility framework. Two formulations of the problem are considered: pure income uncertainty and wage rate uncertainty. In each case, the effects on the labor supply decision of changes in both expected...

We discuss here the implications that arise for the fundamental duality relationships given by Roy's Identity (1943) and Shephard's Lemma (1953) when the underlying consumer choice problem is dynamic and involves uncertainty